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RIL jumps on commissioning most complex Ethane Project in record time

  • Apr-21-2017
  • 14 Hrs IST

Reliance Industries is currently trading at Rs 1402.25, up by 32.85 points or 2.40% from its previous closing of Rs. 1369.40 on the BSE.

The scrip opened at Rs. 1375.20 and has touched a high and low of Rs. 1420.00 and Rs. 1373.05 respectively. So far 489979 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1448.50 on 06-Apr-2017 and a 52 week low of Rs. 925.70 on 23-May-2016.

Last one week high and low of the scrip stood at Rs. 1420.00 and Rs. 1358.25 respectively. The current market cap of the company is Rs. 457137.57 crore.

The promoters holding in the company stood at 46.32%, while Institutions and Non-Institutions held 34.56% and 19.12% respectively.

RIL has completed its Ethane project including commissioning of its ethane receipt & handling facilities and ethane cracking at its Dahej Manufacturing facility in Gujarat in a record time of less than 3 years. The execution of this project at this scale and magnitude is a first in the world.

It was the first company globally to conceptualize large scale imports of ethane from North America as feedstock for its cracker portfolio in India. The project involved seamless integration of several elements across a complex infrastructure value chain.

This includes securing ethane refrigeration capacity in the US Gulf coast, delivery of dedicated Very Large Ethane Carriers (VLECs) to carry ethane from the US Gulf Coast to the West Coast of India, construction of ethane receipt and handling facilities, pipelines and upgrade of crackers (to receive ethane) at Dahej, Hazira and Nagothane Manufacturing facilities.